Oasis lifts revolver borrowing base to $2 billion, caps commitments

By Marisa Wong

Madison, Wis., Oct. 2 – Oasis Petroleum Inc. said lenders under its revolving credit agreement completed their semiannual redetermination of the borrowing base, resulting in an increase to $2 billion from $1.75 billion.

However, the company elected to limit the lenders’ aggregate commitment to $1.5 billion, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into an amendment to its second amended and restated credit agreement on Tuesday.

The next redetermination of the borrowing base is scheduled for April 1.

Wells Fargo Bank, NA is the administrative agent.

Oasis is a Houston-based oil and natural gas company.

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